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mahendra's monthly edition on current affairs

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  • VISIT-WWW.BANKERSGURU.ORG

    RBI/ BANKING/BUSINESS NEWS THIS MONTH

    30 April: India and Japan have signed a Five-point action agenda to increase bilateral trade and investment between the two nations. The five-point agenda includes

    o Development of selected townships in India as Japanese industrial townships.

    o Promotion of investment and infrastructure development.

    o Further development and cooperation in IT sector.

    o Enhancing cooperation in strategic sectors.

    o Asia-Pacific economic integration.

    30 April: Online marketplace Flipkart has acquired mobile marketing start-up Appiterate in order to strengthen its mobile platform.

    30 April: Real estate portal PropTiger.com has acquired its rival Makaan.com to ramp up its presence in Indias secondary property market. After the acquisition both portals will run separately. This acquisition will help PropTiger.com to create a comprehensive online real-estate platform in India which will offer end-to-end services to real estate developers, home buyers, property brokers, private equity investors and banks.

    30 April: Seychelles, an archipelago of 90000 inhabitants became the 161st member of the World Trade Organization (WTO). It is one of the smallest nations among the WTO members.

    28 April: French IT services firm Capgemini has announced its plan to acquire US based information

    technology (IT) outsourcer IGATE for US 4 billion dollars. This acquisition will help Capgemini to strengthen its foothold in the North American market.

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    28 April : Parliament has passed Regional Rural Banks (Amendment) Bill, 2014. It was first passed in Lok Sabha on December 22, 2014 and later in Rajya Sabha on April 28, 2015. This bill amends Regional Rural Banks Act, 1976 and aims to strengthen the Regional Rural Banks (RRBs) and deepen their financial inclusion.

    28 April: French IT services firm Capgemini has announced its plan to acquire US based information technology (IT) outsourcer IGATE for US 4 billion dollars. This acquisition will help Capgemini to strengthen its foothold in the North American market.

    27 April: Bharatiya Mahila Bank (BMB) has won The Asian Banker Achievement Award 2015. The award was presented to the BMB in the Technology Implementation category of Best Outsourcing Project (New Bank).Usha Ananthasubramanian, Chairman and Managing Director of BMB received the award at a function held in Hongkong as a part of The Asian Banker Summit 2015. 26 April: Leading Indian public sector bank Bank of Baroda (BoB) has partnered with UAE Exchange to offer Non-resident Indian (NRI) customers an instant cash transfer facility. This agreement will facilitate customers can send money within minutes to their desired bank accounts in BoB in India.

    24 April: India has emerged as the fourth largest supplier of generic medicines to the United States. Indias generic medicines exports have touched over US 4 billion dollars in 2013-14 in spite of stringent regulatory measures imposed by US.

    24April: Union Government has allowed Employees Provident Fund Organisation (EPFO), Indias retirement fund body to invest five per cent of its corpus in exchange traded funds i.e. in stock markets. The new pattern allows EPFO to invest 5% of its incremental income in Exchange Traded Funds (ETFs) from the current financial year i.e. 2015-16.

    24 April: National Institute of Electronics and Information Technology (NIELIT) signed a memorandum of

    understanding (MoU) with e-commerce giant Snapdeal to roll out digital marketing courses. The MoU aims at helping small and medium enterprises/businesses and artisans who want to take the online route to become entrepreneurs.

    23 April: National Institute of Electronics and Information Technology (NIELIT) on 23 April 2015 signed a

    memorandum of understanding (MoU) with e-commerce giant Snapdeal to roll out digital marketing courses. The MoU aims at helping small and medium enterprises/businesses and artisans who want to take the online route to become entrepreneurs.

    23 April: The Cabinet Committee on Economic Affairs (CCEA) has approved three highway projects in

    Haryana, Uttar Pradesh and Maharashtra with a total cost of 5,150 crore rupees.

    23 April: Union Cabinet meeting chaired by the Prime Minister Narendra Modi gave its approval for signing of a shipping agreement between India and Jordan.The agreement aims at strengthening cooperation

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    between both nations in the area of shipping and to provide sustained mutual assistance and advice on merchant shipping and other related maritime matters.

    22 April: A Memorandum of Understanding (MoU) was signed between Numaligarh Refinery Limited (NRL)

    and Bangladesh Petroleum Corporation (BPC) to export petroleum products to Bangladesh.

    22 April: Online travel services provider MakeMyTrip.com has acquired Mygola, a startup travel guide firm.

    21 April: Indias largest private sector lender Industrial Credit and Investment Corporation of India (ICICI) Bank has launched a payment service Tap-n-Pay. It was launched by bank in collaboration with Tech Mahindra. This payment service is based on the near-field communications (NFC) technology which will enable its customers make over-the-counter payments without using cash.

    17 April: Indias second largest state-owned oil explorer company, Oil India Limited (OIL) has

    commissioned 54 MW wind energy projects saddled between Gujarat and Madhya Pradesh.

    15 April: Finnish telecom network equipment maker Nokia announced acquisition of French telecom network firm Alcatel- Lucent. This merger will create the worlds largest supplier of telecom equipments that powers mobilephone networks by surpassing Ericsson and Huawei.

    14 April: Online restaurant guide Zomato acquired MaplePOS, a cloud-based point of sale product for

    restaurants developed by Delhi based MapleGraph.

    13 April: Mobile commerce platform Paytm inked memorandum of understanding MoU with National Centre for Trade Information (NCTI) to promote Micro, Small & Medium Enterprises (MSMEs).

    11 April: Indias first International Financial Services Centre (IFSC) became operational at Gujarat

    International Finance Tec (GIFT) City in Gandhinagar district of Gujarat.

    9 April: India and United States (US) have signed Memorandum of Cooperation (MoC) transportation between both countries. It was signed by Union Minister of Road Transport & Highways and Shipping Nitin Gadkari and Anthony Foxx, US Secretary of Transportation in New Delhi.

    8 April: Prime Minister Narendra Modi on 8 April 2015 launched Micro Units Development Re-finance

    Agency (MUDRA) Bank in New Delhi. MUDRA Bank will act as a regulator for Micro-Finance Institutions (MFIs) involved in manufacturing, Trading and service activities to promote their growth. The Pradhan Mantri MUDRA Yojana will be the main support system for the bank and will be the part of Small Industries Development Bank of India (SIDBI).

    8 April: Online marketplace Snapdeal acquired Indias fastest growing mobile transaction platform

    FreeCharge.

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    7 April: State owned Dena Bank has signed Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India to provide insurance cover to its all Aadhaar-linked savings account holders in the age group of 18 to 50 years. LIC will provide insurance cover under the Union Governments flagship Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY) scheme.

    3 April: In 2015 FM Global Resilience Index, India has been ranked a low 119 out of 130 countries. India

    despite having scope and global potential was ranked 119 compared to 112th rank in 2014 Global Resilience Index.

    3 April: Union Government has unveiled new Foreign Trade Policy (FTP) to make India an exporting

    powerhouse in the next five years.The new trade policy will incorporate government ambitious initiatives such as Make in India, Digital India mission, Skill India programme, ease of business in order to boost jobs and take Indias exports to 900 billion dollars by 2020.

    1 April: Punjab Government has launched Padho Punjab- Khedo Punjab Mission i.e. Learn Punjab- Play

    Punjab Mission. It is a special mission launched to provide school students a separate period in the curriculum for playing along with studies.

    1 April: New Zealand cricketer Kyle Mills announced retirement from international cricket. He made this

    announcement after New Zealand lost to Australia in ICC World Cup 2015 final.

    NATION THIS MONTH

    30 April: India ranks at 13th position in the world in terms of generation electricity from nuclear source. This information was given by Minister of State (MoS) Dr Jitendra Singh. The ranking was based upon the data published by Power Reactor Information System (PRIS) of International Atomic Energy Agency (IAEA) in 2014.

    30 April: Union Government has extended e-Tourist Visa scheme to 31 more countries with an effect from 31 May 2015. In this regard, Union Ministry of Home Affairs (MHA) has issued a notification. With this the total number of countries under the scheme has gone up to 76.

    30 April: The Union Cabinet chaired by Prime Minister Narendra Modi gave its nod to amendments to the Prevention of Corruption Act (PCA), 1988 by pursuing the Prevention of Corruption (Amendment) Bill, 2013. Key amendments are:

    i. Proposes more stringent punishment for the offences of bribery, both for the bribe giver and the bribe

    taker. ii. Enhances punishment from the minimum 6 months to 3 years